Some stocks are defying the market’s downturn and are closing in green. With ASX closing in red and moving towards an all-time low in the last ten years, here are three stocks from diversified sectors which are on an upswing:
ANTEO DIAGNOSTICS LIMITED (ASX: ADO) – With a major Europe based global supplier of Battery Materials the company enters into its second Materials Transfer Agreement. After the execution of the first MTA, this agreement demonstrates the increasing interest in technology. The board decided to sell the DIAsource business for €15,873,000 cash which was completed on 5 September 2017. With the total market size of the Lithium battery market projected to grow to $US72 billion by 2025 the company has an excellent opportunity. The company incurred a loss in 2017 of $10,527,274 as a consolidated entity while operating loss after tax, amounted to $3,635,633 in 2018. The stock price surged up by 28.571% as at November 30, 2018 to $0.018 and has witnessed a 7.69% change over the past twelve months.
KORAB RESOURCES LIMITED (ASX: KOR) – The company and its subsidiaries are reporting that it is executing a non-binding heads of agreement (HOA) with the manger and operator of Darwin Port by which it is expanding the annual volume to be shipped through the port. The total current assets are $70,779 as at June 30, 2018 and total current liability are at $524,951 which implies that the company has no ability to pay short term obligations currently. The company incurred a lower loss of $490,813 in 2018 as compared to the previous year loss of $602,135 in 2017. At the end of the financial year the cash and cash equivalents are of $24,069 and the company has a zero debt on the balance sheet which is a positive for Korab. The stock price surged up by 8% as at November 30, 2018 to $0.027 but is still near its 52-week low and has witnessed a 4.17% change in the last one week.
VONEX LIMITED (ASX: VN8) – Through its beta testing of Operator Conference the company is making rapid progress. With launch in Europe scheduled for the first half of CY19, operator conference is the first pillar of Vonex’s minimum viable product (MVP) for its Oper8tor aggregated communications app, which will comprise Conference, Voice and Message platforms. The company is delivering strong growth with diverse revenue streams as they develop, deliver and license their advanced technology. It has delivered growth with retail and wholesale customers achieving FY18 revenue of $8 million. The company has a strong cash position of $4 million after completing an IPO in June 2018 and is in debt free status to strive to achieve market share. The stock price surged up by 8% as at November 30, 2018 to $0.027 and has witnessed a 4.17% change in the last one week.
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